The latest update by The Confederation of All India Traders (CAIT) on boycotting 3,000 Chinese products has taken its toll in the entire country post the border standoffs between India and China. The CAIT also started a national campaign called ‘Indian Goods- Our Pride’ to increase local goods and ban Chinese goods.
Now let us understand the practical impact and its impact in the future, both long-term and short-term.
Spurning Chinese products is the first thing that comes under the Government’s eye as Chinese products share a big market of our customers as they are way too cheaper than our products. The benefits of boycotting Chinese products are going to help our Indian local businesses only in the long run.
Analyzing the flip side:-
This will make a huge hike in the cost of Indian products being India imports many raw materials from China only. This move is called a politically inspired campaign as it sounds more impractical than realistic. Chinese products ban will hurt these branches and that may result in a rise in the unemployment rates.
Lack of success of past such campaigns:-
From records, it does not seem a bit pragmatic for India to implement so quickly this campaign. However, we can always look at the reasons that went wrong in the cases and learn from them so that the implementation can be more effective.
How to Snub China and ensure the Victory on this Campaign:-
The ‘Systematic Way’ of appeal propose to snub using software that is made in China in a week, hardware in one year time, finished products and non-essential items to be also snubbed in a year time, and gradually once we are used to these, we can move to snub essential products and raw materials in the coming few years. The Indian government should come up with a plan where local industries and businesses are encouraged to manufacture the products that are being imported from China also by reducing loan interest rates.
As citizens, our donation can be in the form of getting used to other alternates and slowly avoiding Chinese goods to promote our local businesses, and it is indeed everyone’s duty. The government’s role in this is to provide necessary support – financial or otherwise, robust infrastructure and constant efforts to make our manufacturing industry compatible to produce cheaper products with no compromise on quality. With the combined efforts and systematic boycott approach, we will be able to make it reach its expected level.
At last, my final concern is to let us encourage ‘Make In India’ and start a ‘vocal for local’ campaign.